Number of broker products at 18-month high

3 June 2010 | By Natalie Thomas

The total number of live mortgage schemes listed on its mortgage sourcing system increased by 22% in the past month.

Current figures as of 31 May 2010 list 5,805 products, up from 4,753 on 5 May 2010 and bring the number of live mortgage schemes available to its highest level since November 2008, when figures stood at 6,899.

The latest figures represent a 103% increase in overall product availability compared to this time 12 months ago.

A hat trick of increases was also seen during May for the industry’s three main product types – fixed, tracker and variable.

Fixed rate products and trackers witnessed the biggest movements during the past month with fixed rate products now representing 3,612 of all available products, up 24% from 2,292 as of 5 May 2010.

Trackers also climbed 24% during May with current figures listing 1,767, up from 1,423. Variable rate products rose for the sixth month in a row 4% and now represent 426 of all available products – up from 409 as of 5 May 2010.

Mark Lofthouse, CEO of Mortgage Brain, says: “The data from this month’s analysis is very encouraging. Overall product availability is at its highest since November 2008, variable rate products continue their steady increase and we’re starting to see a healthy introduction of new trackers and fixed rate products again.

“What is particularly encouraging, however, is the 12 month analysis, which shows that there are now almost 3,000 more products available to intermediaries than there was this time last year.”

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